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Your Money: Caterpillar expected to start at a record high thanks to Donald Trump tax plan

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MOLINE- Companies across the board are benefiting from President Donald Trump signing the tax overhaul package into law.

Investment adviser Mark Grywacheski joined us Monday, January 8 on Good Morning Quad Cities for our new Your Money segment.

Grywacheski says many large U.S. corporations like Caterpillar, make much of their money overseas, keeping it at a lower tax rate. Now though, those companies may start bring more money back here, with the tax plan in effect.

"Now they can bring that existing cash back at a one time tax rate of 15.5%," Grywacheski said Monday. "Going forward, they'll be able to bring it back tax free."

Caterpillar was set to start at a record high Monday morning due to the tax overhaul plan. As of 10:50 a.m. Monday, Caterpillar's stock was up $2.72 a share to $164.68.

You can catch Grywacheski at 6:20 a.m. every Monday on Good Morning Quad Cities.

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